Melbourne is one of the most liveable cities the world — the Business Insider, CNN, Forbes, and The Economist all agree. Gaining a high score in education, infrastructure, healthcare, and stability, its better lifestyle is attracting many people from other places in and outside Australia. Whether you’re planning to live in the main city or its suburbs, you have to know if staying in Melbourne is a fit for your budget.
Most Australians spend about 30% of their take home pay on rent. An unfurnished studio apartment can cost about $300 per week, while a typical two-bedroom unit is about $400 to $450. If you want indoor facilities like a gym or pool, you have to prepare at least $650.
Manorlakes.com.au recommends new housing estates in Melbourne if you’re planning to move with your family. Many communities offer house and land packages with locations that are only 30 minutes away from the city. In addition, they have their own schools, libraries, parks, and shopping centres.
Public transport in Melbourne uses a myki card that allows you to travel on trains, trams, and buses. It has five types – a full fare that costs $6, a concession, child, and seniors that costs $3, and a new-look myki released in October 2014 that’s a combination of the four.
If you have a vehicle, the parking costs and traffic jams might be unfavourable for your budget. Fuel prices range from 135 to 160 cents per litre, which costs about $40 to $100 to fill up your tank.
Food (Groceries and Dining Out)
If you prepare your own meals, you can get supplies at Coles, Woolworths, and Aldi. For bulk buying, Costco is the ideal place to buy. For your other needs, the local market offers a good bargain for quality food. If you’re planning to live or work in the central business district, convenience stores will charge you a premium.
Living in Melbourne is a good choice, but you have to remember that it stands up to its name. It’s best to have an idea about its cost of living, so you know if you can make it here.